FxWirePro: USD/JPY advances on hopeful signs of U.S.-China trade Resolutions

• USD/JPY firmed on Friday as the dollar strengthened, driven by optimism over U.S.-China trade tensions easing.

• This week, the U.S. shifted its approach, while China looked into removing tariffs on some U.S. goods due to escalating economic worries.

• U.S. President Donald Trump informed reporters that discussions took place on Thursday between the U.S. and China to work toward resolving their trade conflict.

•  In addition, China is reportedly weighing a suspension of its 125% tariffs on select U.S. goods, raising optimism for a potential breakthrough in U.S.-China trade talks.

• On the data front, Tokyo’s core CPI, which excludes fresh food, rose 3.4% in April year-on-year the fastest pace since April 2023, according to data released Friday.
 
•  Immediate resistance is located at 143.51 (38.2%fib), any close above will push the pair towards 144.00(Psychological level).

•  Support is seen at 142.30 (April 24th low) and break below could take the pair towards 140.53(23.6%fib).

Recommendation: Good to sell around 143.80, with stop loss of 144.60 and target price of 143.00